Deferred Revenues is a(n):
A. Stockholders' equity account.
B. Liability account.
C. Revenue account.
D. Asset account.
Answer: B
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A contract is implied when the parties directly state its terms at the time the contract is formed.
Answer the following statement true (T) or false (F)
Operating leverage is
A) concerned with the relative mix of fixed costs and variable costs in the organization B) the use of fixed costs to extract higher percentage changes in profits as sales activity changes C) likely to be higher in an automated manufacturing system than in a manual system D) all of these E) none of these
For an unsolicited report, the—
a. writer should include authorization and acceptance messages. b. writer should omit a transmittal message. c. title pageshould omit the report subject. d. transmittal message should state why the report was written.
In the absence of any specific agreements, the buyer or lessee must make payment after receipt of the goods
Indicate whether the statement is true or false